SoundHound AI (SOUN), which went public on Thursday, saw its shares slide for a second day following its merger with Archimedes Tech SPAC Partners (ATSPU).
Shares of the voice AI platform provider recently changed hands at $6.39, down 15%, at approximately 2:45 p.m. ET. The stock opened at $8.49, hitting a session low of $5.75 in late morning.
SoundHound made its market debut on April 27, with shares falling 7% to close at $7.50. Archimedes stock closed at $8.10 on Wednesday, the last session before the merger.
Archimedes stockholders approved the merger on April 26. The companies announced plans to combine in November through a deal that valued SoundHound with a pro forma enterprise value of around $2.1B.